RBCAA

Republic Bancorp, Inc.

$71.51

0.7

(0.99%)

Exchange:	NASDAQ
Market Cap:	1.242B
Shares Outstanding:	18.172M

Overview

Earnings

Financials

Valuation

Chart

About The Company

Republic Bancorp, Inc., a financial holding company, provides various banking products and services in the United States. It operates in five segments: Traditional Banking, Warehouse, Mortgage Banking, Tax Refund Solutions, and Republic Credit Solutions. The company accepts demand, money market accounts, savings, individual retirement accounts, time, brokered, and other certificates of deposit. Its loan products include residential real estate, commercial real estate, construction and land development, home improvement and home equity, secured and unsecured personal, and aircraft loans. The company also offers credit cards; title insurance and other financial products and services; and memory banking, private banking, lockbox processing, remote deposit capture, business online banking, account reconciliation, automated clearing house processing, and internet and mobile banking services. In addition, it provides short-term and revolving credit facilities to mortgage bankers; tax refund solutions, which facilitate the receipt and payment of federal and state tax refund products through third-party tax preparers and tax-preparation software providers; and general purpose reloadable prepaid cards through third party service providers. Further, the company offers consumer credit products; and property and casualty insurance products. As of January 28, 2022, it operated 42 full-service banking centers. Republic Bancorp, Inc. was incorporated in 1974 and is headquartered in Louisville, Kentucky.

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Revenue Segmentation

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EPS

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Earnings Call

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Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	168,091	209,423	252,946	285,003	298,435	315,065	302,493	308,728	310,883	72,650
? Cost Of Revenue	0	0	0	0	0	0	0	0	0	0
? Gross Profit	168,091	209,423	252,946	285,003	298,435	315,065	302,493	308,728	310,883	72,650
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	69,368	83,445	97,664	108,525	115,253	125,901	140,579	112,908	118,597	121,662
? Selling And Marketing Expenses	3,161	3,778	5,188	4,432	5,023	4,031	4,325	6,875	8,446	9,439
? Operating Expenses	-96,385	-122,522	-154,302	-160,617	-185,242	-212,432	-192,152	-189,454	354,270	9,439
? Net Interest Income	0	0	0	0	0	0	0	0	0	312,154
? Interest Income	142,432	173,992	218,778	256,181	280,883	252,258	226,260	244,184	356,063	432,986
? Interest Expense	18,462	17,938	20,258	30,123	44,757	19,943	5,666	7,493	67,285	120,832
? Depreciation And Amortization	8,142	7,630	8,472	9,347	9,230	9,725	8,986	7,598	0	14,627
? EBITDA	59,986	86,949	86,858	105,042	122,423	112,358	120,428	124,443	0	0
? EBIT										-14,627
? Operating Income	71,706	86,901	98,644	124,386	113,193	102,633	110,341	119,274	115,373	63,211
? Income Before Tax	53,244	68,963	78,386	94,263	113,193	102,633	110,341	116,845	113,213	127,703
? Income Tax Expense	18,078	23,060	32,754	16,411	21,494	19,387	23,552	25,739	22,839	26,332
? Net Income From Continuing Operations										101,371
? Net Income	35,166	45,903	45,632	77,852	91,699	83,246	87,611	91,106	90,374	101,371
? EPS (Earnings Per Share)	1.700	2.220	2.210	3.710	4.400	3.990	4.280	4.590	4.610	5.160
? EPS Diluted	1.700	2.220	2.200	3.700	3.330	2.850	4.260	4.570	4.550	5.140
? Weighted Average Shares Outstanding	20,861	20,942	20,921	20,960	20,822.090	20,838.909	20,477	19,840.545	19,595.818	19,654
? Weighted Average Shares Outstanding Diluted	20,942	20,954	21,007	21,065	20,934.090	20,868.909	20,559	19,904.545	19,853	19,735
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	210,082	289,309	299,351	351,474	385,303	485,587	756,971	313,689	316,567	139,775
? Short Term Investments	517,058	481,275	527,231	475,738	471,355	523,863	495,126	620,365	591,313	647,409
? Cash And Short Term Investments	727,140	770,584	826,582	827,212	856,658	1,009,450	1,252,097	985,547	907,880	787,184
? Net Receivables	8,905	13,614	16,580	15,031	14,040	0	0	10,395	0	92,187
? Accounts Receivables										0
? Inventory	0	0	0	0	-399,189	-501,011	-768,640	0	0	0
? Total Current Assets	3,634,415	4,223,001	4,435,016	4,637,207	870,698	1,019,474	1,260,643	934,887	336,384	787,184
? Property Plant Equipment Net	29,921	42,869	45,605	44,820	81,402	82,857	74,898	68,995	68,102	33,397
? Goodwill	10,168	16,300	16,300	16,300	16,300	16,300	16,300	16,300	40,516	40,516
? Intangible Assets	0	1,205	0	0	0	0	0	0	0	0
? Long Term Investments	555,785	534,139	591,458	543,771	537,074	580,270	542,045	707,862	742,929	0
? Total Non Current Assets	595,874	593,308	650,346	603,197	634,776	679,427	633,243	87,320	6,258,507	33,397
? Total Assets	4,230,289	4,816,309	5,085,362	5,240,404	5,620,319	6,168,325	6,093,632	5,834,531	6,594,891	6,442,593
? Account Payables	0	0	0	0	0	0	0	0	0	0
? Short Term Debt	0	0	0	0	0	0	0	0	134,632	101,680
? Deferred Revenue	0	0	0	0	0	0	0	0	0	0
? Total Current Liabilities	395,433	3,411,286	204,021	225,145	236,883	255,366	330,639	378,321	218,300	101,680
? Long Term Debt	740,740	843,740	778,740	851,240	827,770	320,580	64,672	132,809	305,539	0
? Deferred Revenue Non Current	0	0	0	0	0	0	0	0	0	0
? Deferred Tax Liabilities Non Current	0	0	0	0	0	0	0	0	0	0
? Total Non Current Liabilities	740,740	843,740	778,740	851,240	827,770	320,580	64,672	2,680,109	5,682,135	4,298,492
? Total Liabilities	3,653,742	4,211,903	4,452,938	4,550,470	827,770	320,580	64,672	4,977,918	5,682,135	4,400,172
? Treasury Stock										0
? Preferred Stock	0	0	0	0	0	0	0	0	0	0
? Common Stock	4,915	4,906	4,902	4,900	4,907	4,899	4,702	4,648	4,553	0
? Retained Earnings	432,673	460,621	487,700	545,013	614,171	666,278	687,700	742,250	786,487	0
? Additional Paid In Capital										0
? Total Stockholders Equity	576,547	604,406	632,424	689,934	764,244	823,323	834,232	856,613	912,756	2,484,123
? Total Equity	576,547	604,406	632,424	689,934	764,244	823,323	834,232	856,613	912,756	2,484,123
? Minority Interest	0	0	0	0	0	0	0	0	0	0
? Total Liabilities And Total Equity	4,230,289	4,816,309	5,085,362	5,240,404	5,620,319	6,168,325	6,093,632	5,834,531	6,594,891	6,846,667
? Total Investments	1,072,843	1,015,414	1,118,689	1,019,509	1,008,429	1,104,133	1,037,171	1,379,720	1,334,242	647,409
? Total Debt	740,740	843,740	778,740	851,240	827,770	320,580	64,672	132,809	513,157	101,680
? Net Debt	530,658	554,431	479,389	499,766	442,467	-165,007	-692,299	-180,880	196,590	-38,095
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	35,166	45,903	45,632	77,852	91,699	83,246	86,789	91,106	90,374	101,371
? Depreciation And Amortization	8,142	9,252	9,976	10,779	11,053	13,481	12,439	9,862	15,006	11,706
? Deferred Income Tax	3,351	5,775	19,791	22,300	3,426	-2,311	-11,897	0	0	0
? Stock Based Compensation	645	1,200	1,333	1,646	1,619	1,871	2,569	2,981	2,738	1,510
? Change In Working Capital	2,229	-7,644	2,006	8,314	-9,066	-31,103	-3,747	-3,592	-30,292	0
? Accounts Receivables	-426	-659	-1,726	-1,860	1,031	-14	3,048	-3,695	-4,875	0
? Inventory	0	0	0	0	0	0	0	0	0	0
? Accounts Payables	-33	-298	152	-16	1,718	-2,460	-183	80	3,834	0
? Net Cash Provided By Operating Activities	50,046	47,672	77,777	119,199	97,245	68,434	99,431	154,789	108,531	148,999
? Investments In Property Plant And Equipment	-5,319	-7,031	-12,383	-9,044	-12,883	-3,582	-5,785	-3,503	-6,896	0
? Acquisitions Net	1,623	-9,088	-215,132	-159,723	6,071	-387,255	319,998	161,561	-40,970	0
? Purchases Of Investments	-1,512,809	-439,189	-240,807	-178,809	-445,681	-298,878	-226,052	-413,709	-70,000	-299,810
? Sales Maturities Of Investments	1,434,359	458,359	182,275	224,709	458,490	260,939	239,596	193,506	142,122	384,293
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	-181,026
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	15,000
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	15,000
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	0
? Net Dividends Paid	-15,839	-16,768	-17,656	-19,497	-21,377	-23,204	-24,699	-26,145	-28,350	-30,506
? Common Dividends Paid										-30,506
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	445,366	327,689	219,378	54,445	363,850	446,868	-134,600	-343,562	411,298	147,611
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	137,204	79,227	10,042	52,123	33,829	100,284	271,384	-443,282	2,878	115,584
? Cash At End Of Period	210,082	289,309	299,351	351,474	385,303	485,587	756,971	313,689	316,567	432,151
? Cash At Beginning Of Period	72,878	210,082	289,309	299,351	351,474	385,303	485,587	756,971	313,689	316,567
? Operating Cash Flow	50,046	47,672	77,777	119,199	97,245	68,434	99,431	154,789	108,531	148,999
? Capital Expenditure	-5,319	-7,031	-12,383	-9,044	-12,883	-3,582	-5,785	-3,503	-6,896	0
? Free Cash Flow	44,727	40,641	65,394	110,155	84,362	64,852	93,646	151,286	101,635	148,999
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Estimated Revenue (Low)	253,213	288,047	297,992	317,477	267,410	304,050	320,077.817	383,500	398,500	414,200
Estimated Revenue (High)	253,213	288,047	297,992	317,477	267,410	304,050	390,122.182	383,500	398,500	414,200
Estimated Revenue (Avg)	253,213	288,047	297,992	317,477	267,410	304,050	355,100	383,500	398,500	414,200
Estimated Ebitda (Low)	83,289.171	82,758.028	123,352.642	82,410.043	87,932.047	80,935.397	86,960.888	120,268.390	124,972.499	129,896.133
Estimated Ebitda (High)	124,933.758	124,137.043	185,028.963	123,615.066	87,932.047	121,403.097	130,441.333	120,268.390	124,972.499	129,896.133
Estimated Ebitda (Avg)	104,111.465	103,447.536	154,190.803	103,012.555	87,932.047	101,169.247	108,701.111	120,268.390	124,972.499	129,896.133
Estimated Net Income (Low)	35,374.482	47,969.082	67,233.960	49,968.572	82,588.484	57,414.091	61,474.603	108,198.855	110,382.685	108,198.855
Estimated Net Income (High)	53,061.725	71,953.624	100,850.940	74,952.859	82,588.484	86,121.138	92,211.908	108,198.855	110,382.685	108,198.855
Estimated Net Income (Avg)	44,218.104	59,961.353	84,042.450	62,460.716	82,588.484	71,767.615	76,843.256	108,198.855	110,382.685	108,198.855
Estimated SGA Expense (Low)	78,239.099	67,843.859	87,266.334	76,517.150	105,873.177	93,319.734	100,689.865	160,386.860	166,660.140	173,226.173
Estimated SGA Expense (High)	117,358.650	101,765.792	130,899.502	114,775.727	105,873.177	139,979.603	151,034.802	160,386.860	166,660.140	173,226.173
Estimated SGA Expense (Avg)	97,798.875	84,804.826	109,082.918	95,646.439	105,873.177	116,649.669	125,862.334	160,386.860	166,660.140	173,226.173
Estimated EPS (Avg)	2.420	3.380	3.960	3.730	4.160	4.500	4.180	5.450	5.560	5.450
Estimated EPS (High)	2.420	3.380	3.960	3.730	4.160	4.500	4.180	5.450	5.560	5.450
Estimated EPS (Low)	2.420	3.380	3.960	3.730	4.160	4.500	4.180	5.450	5.560	5.450
Number of Analysts (Estimated Revenue)	16	8	1	1	1	1	1	1	1	1
Number of Analysts (Estimated EPS)	15	7	8	1	1	1	1	1	1	1

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Current Key Metrics

?	Revenue (TTM) :	505.388M	?	P/S (TTM) :	2.35
?	Net Income (TTM) :	101.371M	?	P/E (TTM) :	11.46
?	Enterprise Value (TTM) :	896.128M	?	EV/FCF (TTM) :	5.41
?	Dividend Yield (TTM) :	0.03	?	Payout Ratio (TTM) :	0.26
?	ROE (TTM) :	0.12	?	ROIC (TTM) :	0.07
?	Net Debt (TTM) :	103.288M	?	Debt/Equity (TTM) :	0.48
?	P/B (TTM) :	1.31	?	Current Ratio (TTM) :	0.23